In this article, we’re not going to talk about how things were and how the market was… we’re here to talk about how it is — What we see in Boca Raton, Delray Beach and neighboring South Florida cities with our clients every day.

The Nature of the Beast

FHA loans are insured by a government agency. It is an insurance fund, the loan of which borrowers have to get from an approved Lender. There are other mortgage steps but we’re talking real estate – The appraisal has to be done by an approved appraiser, which will more than likely appraise the home for much less, sometimes several thousand dollars less, even below fair market value, and sellers in this area don’t want to lower their prices to be that low.

What do you do?

Our advice is this: View home purchasing as a business venture. Real estate can easily get emotional, but after you and your agent research and make sure that FHA will be accepted by the seller and the community/HOA if applicable, look at the home as you would a solid investments or business transaction.

Know that it may very well take months and several offers before finally closing on a home. Be sure to research beforehand and during for tips and advise and get more clarity on the details as they are in real-life.

In a bind with your FHA home buying process? Don’t be dismayed. Our team is capable of helping your search.

The Bids Are On!

Your offer is one of several. What can you do to compete, and most importantly, win?

Bidding situations are quite common these days with the low inventory and high amount of prospective buyers. Luckily for you, Florida’s Best Realty Agents have you covered.

When it comes to Boca Raton real estate, Florida’s Best Realty is your top choice! Real estate bidding in this area can be tricky, but we’ve got the experience you need to gain the upper hand.

Our tips can help you gain knowledge and gain the advantage you need to close the sale:

– Choose wisely. Make sure your real estate agent is a good negotiator and doesn’t simply write and submit the offer. The offer is the very tip of the iceberg. Your realtor should be working on getting information on the seller’s needs and expectations. This means following up, getting more personal interaction, even meeting the listing agent if possible. And yes, our agents do all this!

– If it doesn’t convey, just let it lay. Don’t turn off the seller with items such as rugs and lawn care equipment. These things should not be on a competitive offer and your agent should tell you so. Feel free to request and negotiate only AFTER yours is the prime contract. Which leads to our next point…

– Make it simple. Simpler, the better & more attractive. The less complicated and nit-picky your offer is, the more likely the seller will consider it. Trivial items (leaky faucets, minor repairs, paint job, etc.) will magically make your offer invisible. These trivial factors will most likely be addressed.

– Place a large consideration/earnest money deposit – Show that you’re a serious buyer. Money talks. Cash is king. Confident? Then consider making it non-refundable upon acceptance.

– Financing? Know that Sellers and listing agents prefer CONVENTIONAL loans over FHA & VA. If you are a buyer who needs FHA or VA financing, present your highest & best from the get-go.

– Do your research and get a strong, knowledgeable team to represent & guide you. Looking online and making a few phone calls can sometimes only get you so far. Ask friends, family and co-workers for recommendations. You can rest assured with Florida’s Best Realty. We’ll lock you into a strong team. From real estate company to your personal agent, to lenders, home inspectors, title company…etc.

We’ve been in Boca Raton for over 13 years and we’re equipped for every challenge and opportunity.

It’s a Seller’s market. Buyers need top notch counseling. Florida’s Best Realty can provide all that and more.

Put an offer in now. You’re competing with cash. And the saying holds true: Cash is King.

Any questions, you know where to find us! We are the experts who will make sure your deal gets through.

561 208 1382

Buying a House? Expect a Bidding War!

Are you in the market to buy a home in Boca or Delray Beach or any of the nearby cities? Let us tell you it is a challenge — Demand is increasing, but there is very little available on the market. The number of listings has gone down, and the limited supply is swiftly snatched up by the fervent demand.

In our office and across the country, we are seeing eager prospective homeowners and investors buying property as soon as it hits the market, in some cases, without even seeing it.

Now, it is not uncommon for a home to get off the market in less than 30 days.

SALES on the FAST LANE: HOME SALES in APRIL 2013

NORMAL – 3-4 Months (90-120 Days)

March 2013 – 62 Days

April 2013 – 46 Days

This speed is comparable to the Boom, but there is not much concern for a bubble since back then, it was all easy money, too many loans given on a lenient basis, whereas now, loan standards are more strict.

What we are seeing are qualified mortgagor (borrowers) and several cash buyers competing for the sale. Sellers often have at least one offer within the first few hours of placing their property on the MLS,

Where are the builders? Why aren’t we seeing an upsurge in construction in Boca and Delray? There are a few communities springing up, but not many single family homes. They’re actually putting the brakes on and letting prices rise.

If you have any questions, talk with us! We’re available to answer any and all questions, and we’d love to have you as a client.

We see it everyday – property is flying. Trust us to guide you through this fast-paced, no-b.s. market!

From Florida Realtors:

ORLANDO, Fla. – March 21, 2013 – Florida’s housing market reported more closed sales, rising median prices, increased pending sales, more new listings and a reduced inventory of homes for sale in February, according to the latest housing data released by Florida Realtors®.

Ready to relocate to South Florida? Ready for the sun and fun you’ve always dreamed about?

South Florida sells itself. With year-round sunshine and warmth, it’s no wonder that our area is one of the most demanded and popular destinations for tourism and living. There are many job opportunities, growing cities and of course, tons of things to do, taste, see, hear, and smell.

If you are looking to live in South Florida, do not hesitate to contact Florida’s Best Realty: 561 208 1382 or email info@floridasbestrealty.com and one of our agents will assist you.

We make relocation easy. We’ll find a home in your price range and in an area that you will love. We specialize in the region, so you can trust our expert agents as they guide you to the perfect home.

Florida’s Best will be happy to help you whether you are relocating from out of state or if you are a local trying to find your next apartment, condo, townhome, or home. If you’re ready to buy or sell, we’ll help you too! Our experienced professionals will do everything they can to create a smooth and streamlined process, offering advice and confidence.

Existing home sales rose modestly in February and more people listed homes for sale, the first sign of a potential turnaround in a supply crunch in some markets.

Home sales rose 0.8 percent in February from January to a seasonally adjusted annual rate of 4.98 million, 10.2 percent above last year’s level, the National Association of Realtors said Thursday.

The sales rate was the highest since November 2009, when a federal tax credit propped up home sales.

A more important number in the report may be the supply of homes for sale. That rose to 4.7 months, at the current pace of sales, up from 4.3 months in January, NAR says.

The increase in supply is the first of any real significance for more than two years, says Paul Diggle, economist for Capital Economics. While too soon to say that the trough in supply is past, “We get the sense that it’s close,” he says.

Historically, Realtors have considered a six-month supply to be balanced between buyers and sellers.

Even if the inventory crunch is on the verge of easing, “it’ll be years, not months,” to get it back to more normal levels, says Jed Kolko, chief economist for real estate website Trulia. That’s because inventory is so low and new home construction, while picking up, hasn’t yet caught up to the pace of new household formation.

February’s uptick in supply “may be the first hint of a trend or it may be a blip,” Kolko says.

Much of the increase in total inventory, up almost 10 percent to 1.94 million homes, was seasonal, says Patrick Newport, economist at IHS Global Insight. Typically, inventory rises about 6 percent in February.

Even with the increase, February’s inventory of single-family homes for sale was at an 18-year low, he says.

The low inventories are adding up to rising prices, multiple offers and a slowdown in sales in some markets.

In February, California’s single-family home sales were down almost 6 percent from a year earlier, in part because of listing shortages, the California Association of Realtors says. California’s supply of single-family homes for sale stood at 3.6 months in February.

In parts of the Silicon Valley and San Francisco, more homes are selling even before they hit the multiple listing service, says Rick Turley, president of Coldwell Banker in the San Francisco Bay Area.

He estimates that off-market sales are running at 25 percent or more in Palo Alto and Menlo Park. Without such tight inventories of homes for sale, they’d be 2 percent to 4 percent of sales, he says. Multiple offers are also common.

Copyright USA TODAY 2013

Connect with Florida’s Best Realty!

This year my company, Florida’s Best Realty Services, has chosen to support a very special organization: JDRF. As the leading global organization focused on type 1 diabetes (T1D) research, JDRF raises vital funds that accelerate progress to bring life-changing therapies and a cure to people with this disease.

Type 1 diabetes is an autoimmune disease that strikes both children and adults at any age. Unrelated to diet or lifestyle, T1D causes lifelong dependence on injected or pumped insulin and carries the constant threat of devastating complications.

As part of my company’s participation, I’ll be taking part in the JDRF Walk to Cure Diabetes along with some my colleagues. We all agree that JDRF is a superior charity doing unparalleled work and is extremely worthy of our time and support.

I’m asking you to help support my fundraising efforts with a donation. Your tax-deductible gift will help make a difference in the lives of people with T1D.

Donating is quick and easy. Simply click on the link at the bottom of this message “Visit Our Team Page” to donate online.

Please know that more than 80 percent of JDRF’s expenditures directly support research and research-related education. Past JDRF research efforts have helped to significantly improve the care of people with this disease, and have expanded the critical scientific understanding of T1D. JDRF will not rest until T1D is fully conquered.

In addition to making a donation, if you are interested in joining me at the Walk you can get more information by visiting walk.jdrf.org or calling 1-888-533-WALK. I greatly appreciate your consideration and support of this worthy cause. If you have any questions or need any additional information, please don’t hesitate to contact me.

Just tell us your needs and we’ll deliver. We work with your budget and your credentials to find you a match!

Our listings include apartment rentals in Boca Raton, Delray Beach, Boynton Beach, Deerfield Beach, Ft. Lauderdale, as well as sales in these cities. Feel free to browse online or simply call us and we’ll be happy to help.

Right now, listings are here today, closed before tomorrow.

Investors and regular folks can’t get houses fast enough. New, resale and distressed homes are here in the morning, gone by the afternoon, especially in busy South Florida. Literally. We’re seeing it first hand.

Want to sell your home in South Florida? Now is the time. This is your textbook definition of “seller’s market”.

Many cities throughout the country are facing housing shortages due to the fact that there is little to no investment in residential projects. No one wants to invest where the return will be so little. Residential investors are holding out for increased market prices, while the ecstatic demand of any and all available houses – old, new, distressed – is driving prices up.

Economists theorize that the housing market is held back by: 1. developers that are stuck due to lack of funding/land and 2. Potential sellers who are stuck in mortgages.

First time home buyers are not interested in foreclosure-related homes, which are now at their lowest level in four years, so investors continue to pick them up in bulk. There’s high, high demand from “organic” prospective homeowners who are seeking nice houses to move into. Home prices are responding to the increased demand nationwide.

If you’re ready to sell, don’t hesitate to contact Florida’s Best Realty. We’ll make sure you get into the market the right way and reap the rewards!

Buying? We’ll here for your house hunt! Don’t wait another moment. Inventory is flying off the shelves!

Find Delray Beach Properties for Sale

So you want to Call Delray Beach Home?

Delray Beach Florida is the perfect combination of sun, fun, relaxation, good food and good times. People come here to restore and cherish the azure waters, the night life and its beautiful people. Delray can be described as cool and calm, beachy yet sophisticated. With all it has to offer, properties within the city of Delray Beach are in high demand. If you want to live here, you have to act fast. Delray Beach real estate is a hot commodity!

It is easy to fall in love with the beauty and no-fuss attitude of this city, which is probably why you are searching for Delray Beach properties.

If you’re looking for the perfect Delray Beach homes for sale or a Delray Beach rental, you’ve come to the right place!

See all of Florida’s Best Realty’s listings, below. And call us. We’ll find you a Delray Beach home.

Housing Market: Bubble Trouble?

Here we go again. As prices rise, so do concerns. Here’s why:

Historically, stable market prices generally rise three to four percent every year. In 2002, prices were rising around 7 percent, which grew to 8 percent in 2004, then exploded to 12 percent in 2005. As we all know, by 2007, prices fell throughout the nation. This was the first time in our history that this happened.

According to a report by CoreLogic, prices are now skyrocketing back up, with home prices growing around 8 percent since this past December.

Florida has a lot of activity in its distressed home market. Investors can’t seem to buy them fast enough, and their increasing demand is hiking up the prices. Most have a lot of liquidity and are eager to take advantage of increased demand for rental properties. As the market recovers, it relies heavily on metropolitan areas in Florida as they have led recovery in the past (2011), but we’re not seeing exponential spikes in home prices, though they definitely are increasing.

Our state’s market is experiencing a slow, steady increase in prices and it is expected to have more homes in the inventory as foreclosures open up again. Foreclosures were at a bit of standstill due to the “robo-signing” committed by banks, but are now being cleared and pushing through. The more homes available, the more even the supply-demand and gradual increase of home prices.

But is Florida’s housing market showing risks of a bubble?

Florida’s housing market is currently occupied by:

Confident consumers that have regained financial stability because of bettering employment rates

Investors who are likely to prefer to profit now than wait for the market to stabilize and rent the properties they’ve acquired (flip). What’s more, these investors are yet again leading the sales.

Potential buyers who are eager to move, and therefore, list their homes

The market can go either way from here. Prices impact sales, which lately aren’t strong. Most experts are predicting prices will increase this year, but prices can either go up where the market or down where the market is struggling if sales do not increase.

How We Compare to Other Markets:

States that have prices in double digits because of investor demand and drying up inventories include Arizona, Nevada and California.

Phoenix home prices are up 26%, and “REO Saturation” (the share of sales that is Real Estate Owned, or foreclosed) is at 17 percent. During the crash, it was around 50.

In Las Vegas, REO Saturation is at 38% and prices are up 15% annually. With the supply drying up, the bidding is getting higher, leaving owner-occupants and first-time home buyers out of luck and options.

Connect with Florida’s Best Realty on these online networks:

We have yet another way to connect with you – Pinterest!

For those of you who are wondering, we explain:

What is Pinterest?

It is a great way to connect with brands, companies and interests you love. Browse through pictures, add descriptions and create your own themed boards. You can get really creative, and you can always add images from a website or upload them from your computer.

Our Pinterest boards capture great home decor ideas, show some of our listings and provide info about our team and office, reveal some South Florida Fun and just for fun – we share pictures we love of what South Florida Life means to us – sun, fun, and the ocean.

House for Rent in Boca!

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A number of South Florida homes are being sold to foreign buyers, including purchasers from Canada, China, Russia and Brazil, other South Americans and Eastern Europeans. Luxury, high net worth properties are being snatched up by affluent foreign buyers.

From Boca Raton to Naples, beautiful, private and secure homes. And they are paying cash since financing can be a hassle. South Florida real estate is a hot commodity as more and more opulent buyers are taking advantage of home prices and rare opportunities.

Steve Gara from the Examiner.com writes, “From July 2011 to June 2012, foreigners accounted for 19 percent of the home sales in Florida, led by Canadians, according to a report by Florida Realtors, a statewide trade group. In that year, sales to foreigners in the state reached an estimated $10.7 billion — out of a total of $58 billion. Canadians accounted for 31 percent of those foreign purchases, putting them in the top spot. In comparison, Russians only made up 2 percent of the sales, so it remains a small market overall.”

Florida is paradise, pure and simple, and it is known the globe over. If you’re interested in knowing more about South Florida real estate, contact us! We specialize in Boca Raton, Delray Beach, Ft. Lauderdale, Deerfield Beach and more.

Money whipped up yet another list of Best Small Cities in America for 2012, based on strong job opportunities, great schools and low crime rates. Only a handful of Florida cities made the cut, including Coral Springs at Number 96 and Weston comes in at Number 62. It’s no surprise that both are in South Florida!

Money notes that Coral Springs has a young population (27% of the city’s population is under 18) and points out Weston‘s affulent and outdoorsy constituents.

Have you been researching a great South Florida city to call home? Look no further. We’ll have the right location and home for you!

Florida’s Best Realty is passionate about connecting our clients with the home that addresses their desires and just feels right. Whether renting or buying, you can count on us!

Want to see what we have? Here’s a bit of a taste: Check out this hot listing in Coral Springs! Beautiful 4/2 Single Family home. View Florida’s Best Realty’s Coral Springs Home for Sale now.

Get to know us! Florida’s Best Realty – your South Florida Real Estate Specialist- is at your disposal.

Indices from the Standard & Poor’s/Case-Shiller Home Price indicated that home prices were up 4.3 percent in October from a year earlier, marking the largest 12-month increase since May 2010.

As we mentioned in our blog entry, Pending Home Sales Rise to Five Year High, pending home sales have consistently gone up along with consumer confidence and home prices. The industry is excited to see that pre-owned homes have been selling rapidly, as shown by figures from the National Association of Realtors.

Over 100 experts (real estate experts, economists, financial strategists, etc.) collaborated on Zillow’s Expected Home Price Survey with positive speculation. Home prices are expected to rise up to 3 percent in 2013.

According to Trulia, house sales are 73 percent back to normal (pre-crisis levels), delinquency and foreclosure rates are 41 percent back to normal and housing prices are 37 percent of the way back to normal.

Stay tuned! We’ll be sharing more information and new data about real estate conditions.

At Florida’s Best Realty, we’re feeling very optimistic about home sales in South Florida in the coming New Year. We want to be your go-to crew for your real estate journey in this fantastic area. Whether you are buying or renting properties and South Florida real estate, our experts will be delighted to make sure you get the very best outcome and have a great experience.

“Buyers are coming back to the housing market in ever greater numbers, as an industry index measuring contracts to purchase existing homes surged 5.2 percent in October from September.The monthly gauge of pending home sales from the National Association of Realtors was also revised higher in September and is now up 13.2 percent from October of 2011. This is a forward looking indicator for closed sales one to two months from now.“We’ve had very good housing affordability conditions for quite some time, but we’re seeing more impact now from steady job creation and rising consumer confidence about home buying now that home prices have clearly turned positive,” wrote Lawrence Yun, chief economist for the NAR in a release. Pending home sales are now at the highest level since March of 2007 and have risen, on a year-over-year basis, for 18 consecutive months. The activity, however, varies from region to region, and the Realtors say the Northeast, which saw a 0.1 percent drop in sales month-to-month- did see some impact from Hurricane Sandy.

Signed contracts also declined in the West, 1.1 percent in October month-to-month and are up just 0.9 percent from a year ago.

Pending home sales surged in the Midwest, up 15.6 percent month-to-month and up 20 percent from a year ago. They were also higher in the south by 5.5 percent sequentially and by 17.4 percent from a year ago.

Realtors continue to warn that while this housing recovery seems to be gaining steam, changes to the mortgage interest deduction, as well as other potential hits to the economy from the so-called “fiscal cliff,” could derail the momentum.”

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Florida’s Best Realty thanks Ms. Olick CNBC for this fantastic article on the improving market!

Looking for the right opportunity to buy or sell in South Florida? Florida’s Best Realty is pleased to tell you that things are looking up! So dive in with us. We have what it takes to help you navigate South Florida real estate.

Throughout our region, home resales have risen and prices are increasing and stabilizing.

This October, we experienced exciting growth in Miami-Dade and Broward. Houses are spending less time on the market, sales are up on both single-family homes as well as townhomes and condos.

Expect to see a continual rise in prices. If you’re not in now, you better hurry! These significant upticks mean availability doesn’t last long. You’ve got to be active before someone takes up a dream property.

Interested in browsing for housing? We feature incredible properties throughout South Florida.

With the real estate meltdown occurring in 2005 sellers found just about any way they could to unload distressed homes without incurring judgements, liens and the fear of banks forever controlling their financial future. One solution to all of the above is the “short sale”, which to put into simple terms, is an agreement between a lender and a borrower to allow the borrower the ability to sell a home at less than the principal balance owed. So, for instance, if you bought a home in 2005 for $100,000.00 and it is now worth $50,000.00 in 2012, you would be left with a few choices. One, you could ask for a principal reduction (simply asking the lender to cut your balance owed on your home). From my experiences, this hasn’t worked, and most borrowers who attempted to go down this route ended up getting foreclosed on. Option B is a refinance; however, with negative equity (the value of a home vs. what is owed on it)

Situated in South Florida’s luxurious city of Boca Raton, home to Florida Atlantic University, Lynn University, Palm Beach State College, Digital Media Arts College, Everglades University, American Friends of Telaviv University, and many other small schools , Florida’s Best Realty offers a specialty service aimed at assisting students, faculty and staff of local college universities.

The service is actually the foundation upon which Florida’s Best Realty was founded – providing a free, no hassle locator service to find off campus housing solutions for universities. When founded in 2001, StudentHousingOffCampus.com was the original off-campus housing site. It later grew to incorporate many avenues of real estate transactions, eventually merging into one conglomerate of FloridasBestRealty.com.

✓Whether you are looking for an apartment, condo, townhome, villa or single family home for rent or sale, we are here to assist you. Our agents are licensed professionals who will personally work one on one with you to ensure your satisfaction.

✓Whether looking to rent a home near campus or buy a property as an investment, call or email our office at any time and we will be glad to assist you with finding a new home.